Fined: Kestra Investment Services, LLC fka NFP Advisor Services, LLC Fined by FINRA

Fined
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Kestra Investment Services, LLC fka NFP Advisor Services, LLC Fined by FINRA

13 February 2019

A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $225,000 and required to provide FINRA with a plan to remediate eligible customers who qualified for, but did not receive, the applicable mutual fund sales-charge waiver or appropriate share class. As part of this settlement, the firm agrees to pay restitution to eligible customers, which is estimated to total $1,947,704 (i.e. the amount eligible customers were overcharged, inclusive of interest).

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